The Global Medical Device and Accessories Market is expected to grow at a compound annual growth rate of 6.41% in the forecast period of 2021 to 2028 and is expected to reach USD 181,354.14 million by 2028. The rising prevalence of chronic diseases and growing number of surgical procedures across the globe are significant factors driving the market growth rate.
Likewise, the growing government and companies’ investment in healthcare projects and infrastructure development and the rapid increasing number of agreements between companies to manufacture cost-effective medical devices, increasing medical tourism and high demand for medical devices will produce lucrative opportunities for the growth of the medical device and accessories market.
According to Data Bridge Market Research the market for medical device and accessories is expected to accelerate the market’s growth owing to the increasing economic growth and rising geriatric population. Moreover, the increasing use of non-invasive devices and increasing disease awareness are also expected to fuel the demand of the medical device and accessories market over the forecast period of 2021 to 2028. The surging demand for infection control measures to curtail the occurrence of hospital-acquired infections also boost the overall growth of the market. Whereas, factors such as lack of awareness regarding these instrument treatments as well as the lack of research and development in the underdeveloped are expected to hinder the growth of the medical device and accessories market in the aforementioned forecast period. The stringent government regulation and pricing pressure is most likely to be posed as one of the challenges for the growth of the medical device and accessories market in the forecast period.
Now the question is which are the other regions that medical device and accessories market is targeting? Data Bridge Market Research has estimated large growth in Asia-Pacific due to rapidly improving technology, growing need for better monitoring devices and the presence of large patient pool within this particular region.
For more analysis on the medical device and accessories request for a briefing with our analysts, https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-medical-device-and-accessories-market
Medical device and accessories market is segmented on the basis of countries into the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Key Market Competitors Covered in the Report
Above are the key players covered in the report, to know about more and exhaustive list of medical device and accessories companies’ contact us, https://www.databridgemarketresearch.com/toc/?dbmr=global-medical-device-and-accessories-market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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Global Medical Device and Accessories Market – Industry Trends and Forecast to 2028